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Newsline

News/Business. World events, business news and weather forecasts; broadcast in English. (CC) (Stereo)

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PBS

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00:30:00

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mpeg2video

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ac3

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U.s. 15, Singapore 12, Tokyo 7, China 7, South Korea 6, Campbell 4, North Korea 4, Vietnam 4, Eu 3, Mitsubishi 3, Jennifer 3, Goldman Sachs 3, United States 3, Europe 3, Russia 3, Moscow 3, Seoul 3, Nhk 3, Yoshio Arima 2, Kurt Campbell 2,
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  PBS    Newsline    News/Business. World events, business news and  
   weather forecasts; broadcast in English. (CC) (Stereo)  

    July 15, 2010
    7:00 - 7:29pm PDT  

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it's friday, july 16th in tokyo. you're watching nhk world. and this is "newsline." u.s. secretary of state hillary clinton will visit south korea and vietnam next week to coordinate with u.s. allies over the sinking of a south korean warship blamed on north korea. assistant secretary of state kurt campbell told reporters that clinton will leave on monday and visit the two countries after attending an aid conference in afghanistan. in announcing clinton's tour, campbell urged north korea to
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take concrete action toward abandoning its nuclear program. >> the united states and south korea have always maintained, and our position is clear, that we are prepared under the right circumstances to sit down in a dialogue with north korea. >> in seoul clinton is scheduled to attend a meeting with the foreign and defense ministers of south korea, along with u.s. defense secretary robert gates. she'll then head to vietnam to take part in the asean regional forum, a framework for discussing security issues affecting the asia pacific. campbell also said clinton will meet with japanese foreign minister katsuya okada on the sidelines of the asean conference. they're expected to discuss the relocation of the u.s. futenma air base in okinawa, among other issues. the u.s. congress has given final approval to sweeping financial regulatory reforms,
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one of president barack obama's key policy goals. obama is expected to soon sign the bill into law. the legislation will put in place the most drastic overhaul of the u.s. financial system since the 1930s. on thursday, the senate voted 60-39 on the bill. it was passed by the house of representatives last month. the reforms are intended to avoid a recurrence of the global financial crisis. they include a uniform oversight of the financial industry, bringing major security companies and insurance firms, as well as banks, under the watch of the authorities. they also create a new federal agency to protect consumers purchasing complex financial commodities. the bill also imposes limits on financial institutions in dealing with high-risk products. obama spoke to reporters on thursday in washington. >> the united states congress has now passed a wall street reform bill that will bring greater economic security to families and businesses across the country.
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we can't afford another financial crisis just as we are digging out from the last one. >> the bill, however, has incorporated some of the financial industry's demands. banks are still permitted limited investments in hedge funds despite calls for a total ban. it also allows banks to handle lower-risk derivatives. two explosions in southeastern iran left at least 20 people dead and more than 100 others injured on thursday. both incidents are believed to be suicide bombings. the blasts occurred in the city of zahedan, the sistan-baluchistan province. iran's state-run news agency irna says the first detonation happened near a crowded mosque. several people were injured. as others gathered to help the wounded, there was a second explosion. a group of armed rebels following sunni muslim, a minority in iran, said via website said it was behind the attacks. the group released a statement
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saying it carried out the bombings in retaliation for the government's execution of its leader last month. the same group also claimed responsibility for two attacks last year in the province where over 60 people were killed. in japan, three people have been reported dead and nine missing in mudslides and floods caused by torrential rains. the meteorological agency says record rains fell in the evening in gifu prefecture in central japan. a mudslide destroyed a house on thursday night, leaving three family members missing. the 24-hour rainfall in the town reached nearly 240 millimeters. some areas of central and western japan have seen 500 to 600 millimeters of rain since saturday, surpassing the average amount for the whole of july. in kane city also in gifu prefecture, cars are reported to be stuck or drifting in floods, with two people unaccounted for. one woman was swept away while her daughter was being rescued
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from a car, where they were waiting for help. in matsue city, western japan, shortly before 2:00 a.m. on friday, a landslide propelled huge rocks into a house. three people were trapped inside, including two elementary school children. police and firefighters used heavy equipment to mount a rescue. shortly after 5:00 a.m., they pulled an 11-year-old girl from the house. the police say the girl has an injured leg but is conscious. two four-meter rocks smashed through the roof of the two-story house. police and firefighters are continuing efforts to save the mother and son, who are still inside. weather officials say localized downpours could hit west to northeastern japan through friday afternoon. they're calling for caution against mudslides. now, in business news, u.s. investment bank goldman sachs has settled fraud charges, but it came at a record cost. ines matsuyama has the details
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in a look of the latest market-moving headlines. >> thank you very much, catherine. goldman sachs has agreed to pay $550 million in fines to settle fraud charges by the u.s. securities and exchange commission. the s.e.c. announced the agreement on thursday. the government watchdog filed a lawsuit against the wall street firm in april. the regulator claims goldman sachs sold subprime loan products without providing crucial information to investors. the company acknowledged its marketing materials for the product had incomplete information. the penalty is the largest to be ever paid by financial institutions. $250 million from the fine's total amount will be used to compensate investors. the s.e.c. said the settlement was a stark lesson to wall street firms to provide information properly or pay a heavy price. meanwhile, second quarter profit at jpmorgan chase has surged 76% to nearly $4.8 billion. the boost comes from the bank's
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consumer divisions. the second biggest u.s. bank released its april to june earnings report on thursday. profit got a boost after the bank's mortgage unit was able to cut reserves for loan losses. the credit card division also pitched in as it turned profitable for the first time since the financial crisis hit in 2008. these improvements offset a decline in the bank's wholesale operations. earnings at the investment banking unit fell 6% from a year earlier as europe's debt problems led to market volatility. in tokyo stocks extended their losses on friday morning. the nikkei 225 ended the morning session at 9,530 points, down 1.6%, or 155 ticks down. market players took their cue fr from uncertainties over the u.s. economy after manufacturing data fell short of market forecasts. a stronger yen also weighed down on export-related issues such as autos and electronics.
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to currencies. on the tokyo foreign exchange the dollar is lower against the yen on friday morning. the greenback is fetching 87.22-23, while the euro's changing hands at 112.66-69. the dollar came under selling pressure overnight after worse than expected american economic data dampened the outlook for u.s. recovery. that prompted investors to buy the yen and the euro. and here's a look at the latest long-term interest rates. this is the yield on the benchmark ten-year japanese government bond. in other asian markets hong kong's hang seng opened 0.2% higher. it currently is down just slightly. slightly in the red. the shanghai index for major blue chips is down 0.6%, and in shenzhen the sse composite is also down half a percent. japan's mitsubishi electric will boost production of semiconductors with improved energy control features. it's in a bid to tap growing chinese demand for ecofriendly
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home appliances. the so-called power semiconductor is used in energy-efficient air-conditioners and hybrid vehicles. the chip cuts energy use by controlling electricity flow to a motor. mitsubishi plans to add new production lines to existing plants in western japan by march next year. that will burst current output capacity to about 2 1/2 times and at a cost of roughly $110 million. the company also plans to develop more advanced semiconductors to boost its chip sales by 40% in five years. a mitsubishi executive says china's chip demand is growing over 5% annually. new condominiums for sale in tokyo have surged 27% in the first half of the year. that's the first increase in six years. the real estate economics institute says condo offerings hit 5,130 units in june, the fifth straight monthly increase, and a 66% surge from the same
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period last year. nearly 79% of all sale contracts have also been signed. it's also the first time in three years signed purchase agreements surpassed the 70% level. demand for condominiums is on the rise, especially in central tokyo, and developers are stepping up construction. japanese retailer parco recently returned to the singapore market by snatching up a giant shopping mall. besides bringing japanese flair the firm is also investing in singapore's young designers. nhk world's yoshio arima has more. >> reporter: parco is a legendary company that created new fashions in the 1970s and '80s in japan. the giant has gone back to singapore with a full-fledged mall in the main commercial area. it's one of parco's biggest malls outside japan.
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it's a symbol of its confidence in the region. visitors and shoppers were impressed with a new addition to singapore's shopping paradise. singapore's gross domestic product per person is about $40,000. that's among the highest in asian cities. the high incomes enable many young singaporeans to pursue their zeal for fashion. and it's a market segment that parco is targeting. >> translator: past experience tells us that we have another chance to expand in a new form. and the fast-growing asian market with our new outlet in singapore. >> reporter: working with local trade associations, the singapore government's policy of attracting foreign firms also played a key role in this
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endeavor. >> it's a way government can commit resources to help the associations to in a way help enlarge the market for our local designers. i think that's where it will play a useful role. >> reporter: another target is the local talent in singapore. a highly successful incubator program has been brought from japan. 25-year-old jennifer lee is one person who has benefited. jennifer had no formal training or degree in fashion. all she had was a passion. she has now made her dream come true by opening a fashion store. >> so having a store and having this wonderful opportunity is really a wonderful dream come true for me.
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it's something i never expected to achieve so fast. but i'm very >> reporter: in japan parco's success is believed to be due to its care in founding and educating its own designers and shoppers. >> so pretty. >> yeah? >> reporter: in singapore parco arranged a fashion show for young designers right in the heart of the mall. parco believes young designers like jennifer could strike it out on their own with this kind of opportunity. with this show jennifer made her debut in boosting her own brand, amuse. >> i hope that everybody will like my brand and get to know my brand, and then after that i
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really hope to be in the asian region. so to establish amuse as an international brand. >> translator: if we are successful in creating professional designers, that will also enhance our company's power. i know it's a tough task, but it's a challenge we are excited to take on. >> reporter: parco made its inroad into singapore with a clear strategy, low prices, and world-class branding power. its success hinges on the future of its training style and empowerment of the aspiring designers in singapore. yoshio arima, nhk world, singapore. next is an update of the latest market figures. ♪
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♪ ♪ >> that's all for now in biz news. back to the main news with catherine. >> thanks very much, ines. britain, germany, and france say europe should raise its 2020 target for cutting greenhouse gas emissions. they say the new goal is necessary to ensure the eu
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remains competitive in developing alternative energy. the climate change ministers from the three nations wrote a joint article which was published simultaneously in their countries on thursday. it calls for the target to be raised to a 30% cut. the eu currently aims to reduce greenhouse gas emissions by 20% from the 1990 levels by 2020. in the article the ministers say the current goal is not enough to stimulate investment in state-of-the-art environmental technologies such as solar power. they say that europe risks falling behind china, japan, and the united states in technology development. the ministers say a low-carbon economy could stimulate related industries. the eu says it will raise the target only if major emitters including the united states and china make comparable commitments. the japanese government has announced plans for a task force to locate the remains of world
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war ii soldiers on ioto island. more than 60 years since the end of the war the bodies of many japanese soldiers remain unaccounted for. the island, located about 1,200 kilometers south of tokyo, was the site of fierce battles between japanese and u.s. forces in the final stages of the war in 1945. about 22,000 japanese were killed. but over 13,000 are still missing. prime minister naoto kan told welfare minister akira nagatsuma on wednesday to accelerate measures to discuss the recovery of those remains. kan said the bodies should be recovered as soon as possible so bereaved families can pray for the souls of the soldiers. welfare and defense officials will join the task force. they'll hold their first meeting this month. dozens of people have drowned in russia's capital, moscow, over the past week as an unprecedented heat wave has seen people trying to cool off in rivers and ponds. the temperature in moscow has
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climbed above 30 degrees celsius over the past seven days, with the thermometer on thursday reaching 32 degrees. reports say at least 48 people have drowned in the last week. russia's interfax agency says many of the victims had been drinking alcohol before jumping into the water. >> translator: i can't do anything but swim. i don't even go to work. >> translator: it's too hot. i wish it would get cooler soon. >> a zoo in the city has been providing ice to polar bears and tigers to help them cope with the scorching heat. russia's meteorological office says it expects the heat wave will continue until the middle of next week. mountains of discarded oyster shells pile up every year
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in miyei prefecture's toba city. but researchers have found a use for this eyesore by using the oyster shells to grow clams. we'll show you how it's done in this next report from toba city. >> reporter: these clams are growing at about twice the normal rate. in just eight months they have already reached this size because of a new growing method. the secret to the rapid growth lies in these oyster shells. toba city cult vaits mounivates oysters in an area where the coastline is deeply indented and the waves roll gently in. but after the oysters are removed from their shells, the city has to dispose of them. but getting rid of 5,000 tons each year is a problem.
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glier nine years ago toba city built a factory to process the leftover shells, workers grinding them into fine powder for fertilizing crops. the al kaline in ground oyster shells helps improve the quality of acidic soil.kaline in ground shells helps improve the quality of acidic soil. the fishery's research agency realized the ground shells could be used for other purposes too. in the past this part of toba city grew a rich supply of large clams. but now they don't grow any larger than one centimeter. so the institute and local oyster farmers started an experimental clam farm two years ago. researchers placed clams in sacks filled with ground oyster
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shells. then they left them on the sand and waited to see if clams inside could adapt and grow. after eight months the clams had grown quite large. the institute says that the alkalinity of oyster shells has two effects -- it helps the clams grow and also counteracts harmful acidic substances like hydrogen sulfide in beach soil. >> translator: clam numbers are low all over the country. and the harvest could be quite small. but now it looks like we found an effective way to increase the amount of cultivated clams. >> reporter: in may, after the research was completed, oyster
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farmers in toba city started using oyster shells to grow clams. this year they tried placing baby clams in a net with oyster shells and hanging the net in the water. they expect that after a year the clams will grow to four or five centimeters. >> translator: we are still in the research stages, but we're hoping that these can become a local specialty product. if we could harvest oysters in the winter and clams in the summer, that would be great. >> reporter: researchers tried to develop new methods for growing bigger clams, with methods never before used in japan. welcome back to your world weather update. well, over the south china sea there is a severe tropical
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storm, conson, due to make landfall across hainan island local time friday. late friday night into saturday morning. it is packing winds of over 100 kilometers per hour right now. it is expected to gain a bit more strength before making landfall. the center of the storm might just miss the island, but nevertheless, we are going to see some very, very windy conditions, damaging winds as well as torrential rains occurring from northern vietnam all the way to the southern coast of china. already heavy rainfall, about 70 millimeters has fallen in some of these islands in the last 24 hours. so already the rainfall is turning quite severe and heavy. over the next few days we'll see that heavy rain moving into southwestern areas of china as well. so do look out for damaging winds, coastal flooding, as well as high waves. elsewhere across in asia still looking at this isolated, heavy rainfall in parts of central
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china. in western japan as well in the last 24 hours. 234 millimeters falling here. and the good news is that the rain has eased quite a bit in western japan. but you're not out of the woods just yet. the ground is very, very saturated. any additional rain is not welcome. it looks like there will be some more of those coming later on in the afternoon. while that line of showers is going to stay put in central china, here we're dealing with lots of landslide problems in yunnan. so you need to stay put over the next few days as well. the korean peninsula you're looking at that widespread rain moving through. heavy rain embedded in that. and then for northeastern china looking at quite gusty conditions. look out for those sharp showers as well. 29 degrees in beijing. 26 in seoul. it's going to be hot in chongqing. 35 for your daytime high. now, in north america the severe weather conditions such as thunderstorms, large hail, and
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possibly tornados will be forming along this frontal line, especially around the great lakes it's going to be very, very windy for you. all that is going to be heading into the eastern seaboard on your friday. but the heat wave conditions will be continuing up in the northeastern corner. 35 degrees in new york and 36 in washington, d.c. heat wave also prevailing across eastern and central europe as well. temperatures really hotting up due to the jet stream meandering all the way to the north, receiving all that hot air from the -- from north africa. so temperatures are boosting here. 28 degrees in stockholm. 33 in moscow. and way above average in berlin. 36 degrees as well. now, the heat wave conditions can turn deadly. and in major cities the air quality can become quite poor as well. due to the stack's atmospheric conditions. the heat wave just tends to trap the pollutants in major cities. so do be careful if you are in
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any of these areas. a big storm system moving across the british isles is going to be bringing sharp showers again to areas here. the low countries france as well as scandinavia as well throughout friday. that's what's going on right now. here is your extended forecast. ♪ u.s. secretary of state hillary clinton will visit south korea and vietnam next week to coordinate with u.s. allies over the sinking of a south korean warship blamed on north korea. assistant secretary of state kurt campbell told reporters that clinton will leave on
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monday and visit the two countries after attending an aid conference in afghanistan. in announcing clinton's tour, campbell urged north korea to take concrete action toward abandoning its nuclear program. >> the united states and south korea have always maintained, and our position is clear, that we are prepared under the right circumstances to sit down in a dialogue with north korea. >> in seoul clinton is scheduled to attend a meeting with the foreign and defense ministers of south korea, along with u.s. defense secretary robert gates. she'll then head to vietnam to take part in the asean regional forum, a framework for discussing security issues affecting the asia pacific. campbell also said clinton will meet with japanese foreign minister katsuya okada on the sidelines of the asean conference. they're expected to discuss the relocation of the u.s. futenma air base in okinawa, among other issues. and that wraps up this
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edition of "newsline." i'm catherine kobayashi in tokyo. thanks very much for joining us.
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